Suppose you are going to invest equal amounts in three stocks. The annual return from each stock is normally distributed with mean $0\mathrm{.}01(1\%)$ and standard deviation $0\mathrm{.}06.$ The annual return on your portfolio, the output variable of interest, is the average of the three stock returns. Run @RISK, using $1,000$ iterations, on each of the following scenarios.a$.$ The three stock returns are highly correlated. The correlation between each pair is $0\mathrm{.}9.$ What are mean and standard deviation portfolio return? If needed, round your answer to three decimal digits.Mean Portfolio ReturnStandard Deviation Portfolio Returnb. The three stock returns are practically independent. The correlation between each pair is $0\mathrm{.}1.$ What are mean and standard deviation portfolio return? If needed, round your answer to three decimal digits.Mean Portfolio ReturnStandard Deviation Portfolio Returnc. The first two stocks are moderately correlated. The correlation between their returns is $0\mathrm{.}4.$ The third stock's return is negatively correlated with the other two. The correlation between its return and each of the first two is $0\mathrm{.}8.$ What are mean and standard deviation portfolio return? If needed, round your answer to three decimal digits.Mean Portfolio ReturnStandard Deviation Portfolio Returnd. Compare the portfolio distributions from @RISK for these three scenarios. What do you conclude?As the stocks become more correlated, the mean $,$ and the standard deviation $.$e$.$ You might think of a fourth scenario, where the correlation between each pair of returns is a large negative number such as $0\mathrm{.}8.$ But explain intuitively why this makes no sense. Try to run the simulation with these negative correlations and see what happens.The input in the box below will not be graded, but may be reviewed and considered by your instructor.